The BTC course locally shows a density of targets in correction up to $111,228. The extreme target according to our indicator is $109,349.

The low of Wednesday has not yet been updated, but it is close - $112,380. The impulse that returned the price to a stable downtrend on the 15-minute timeframe came with the appearance of a "hawkish" statement from US Fed member Hammack. He speaks rarely; at least in our channel, there was only one of his statements in April of this year, and it was also "hawkish".

Theses:

- We are only just beginning to see the impact of tariffs on the economy. And we will not see their full effect until next year.

- The expectation of a one-time impact of tariffs on the economy may not work.

- Given the new macro data, I see no grounds for a rate cut in September.

- The biggest problem is that inflation is still too high and there is a tendency for it to rise. We are not managing inflation.

- I see no signs of a significant economic downturn.

So far, this is one of the most stringent public rhetoric from the Fed in recent months.

Buy orders remain in place; we still believe that #BTC is in the reversal zone.